Scatec Solar ASA and Statoil ASA have agreed to establish a 50/50 Joint Venture to build, own and operate large scale solar plants in Brazil.
"The potential for solar energy in Brazil is substantial and together with Statoil we are increasing our ambitions further in this market. We are bringing into the partnership a strong track record as an integrated independent solar power producer, while Statoil has a strong engagement and experience from Brazil through its other energy activities," says Raymond Carlsen, CEO of Scatec Solar.
"Brazil is a core area for Statoil where our ambition is to deliver safe and sustainable growth in an attractive energy market. We are excited to have entered our first solar project with an experienced partner like Scatec Solar", says Irene Rummelhoff, Executive Vice President of New Energy Solutions in Statoil.